Minister of Housing and Urban Affairs Manohar Lal today said that the contribution of real estate sector in GDP must reach up to 18 percent by 2047. Addressing the 17th National Convention of National Real Estate Development Council (NAREDCO), the Minister highlighted that this sector contributes greatly in the progress of the country. He also mentioned that the real estate sector contributes upto 8 per cent to the country’s GDP.
Talking about the role of NAREDCO, the Minister said that the council’s work is very complex because there is a lot of variety in choices. He added that different states have different challenges, but it has to make its path, keeping everything in mind. He further underlined that whenever conventions like these are done, the government takes its suggestions and advice into consideration in policy making.
